Travis Parry at Commerce Real Estate Solutions provides a brief update on the Washington County/St. George commercial market:
"The market continues to strengthen as it comes off the bottom. Most of my activity has been on the industrial sale side over the past few months. Our industrial vacancy has come down a point and a half from 16 percent to 14.5 percent over the last six months with about 128,000 square-foot net positive absorption (property taken off the market). We had about 200,000 square-foot gross change hands in the last six months. Just to give you a barometer, Las Vegas is around 14.5 percent blended vacancy and Salt Lake City is about 7 percent. For the other segments, retail has also started to improve slightly coming down a point off the vacancy factor to 11.67 percent. The office market continued to suffer going up a point to just over 15 percent."
A full report for Washington County can be found here.
